INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2023

Income before Income Tax, Domestic and Foreign

The components of loss from continuing operations before the provision for income taxes are as follows:


	For the Year Ended December 31,
$ in thousands	2023		2022
Domestic	$	(29,039)	$	(254,739)
Foreign	—		—
Total	$	(29,039)	$	(254,739)

Components of Provision (Benefit) Income Taxes

The components of the provision for income taxes from continuing operations consist of the following:


	For the Year Ended December 31,
$ in thousands	2023		2022
Current tax provision:
Federal	$	—	$	—
State	—		(53)
Foreign	—		—
Total current tax (benefit) provision	—		(53)
Deferred tax provision:
Federal	—		11,771
State	—		3,284
Foreign	—		—
Total deferred tax provision	—		15,055
Total provision for income taxes	$	—	$	15,002

Effective Income Tax Rate Reconciliation

A reconciliation of the amounts at U.S. federal statutory tax rate to the Company’s effective tax rate for continuing operations is as follows:


	For the Year Ended December 31,
$ in thousands	2023		2022
(Benefit) provision at federal statutory rate	$	(6,248)	$	(53,495)
State income taxes, net of federal tax benefits	—		2,553
Change in valuation allowance	(13,002)		65,395
Other, net	19,250		549
Provision for income taxes	$	—	$	15,002

Components of Deferred Tax Assets and Liabilities

Deferred income taxes are provided for the tax effect of temporary differences between the financial reporting basis and the tax basis of assets and liabilities. Significant components of the Company’s deferred tax assets (liabilities) are as follows:


	As of December 31,
$ in thousands	2023		2022
Deferred tax assets:
Net operating loss carryforwards	$	40,132	$	58,008
Intangibles	960		1,674
Stock-based compensation	740		462
Capitalized costs	7,484		8,794
Interest Expense Limitation Carryforward	7,035		4,653
Environmental liabilities	4,492		4,538
Fixed Assets	7,449		3,672
Other	3,908		3,401
Gross deferred tax assets	72,200		85,202
Less: valuation allowance	(72,200)		(85,202)
Deferred tax assets, net	—		—

Deferred tax liabilities:
Investment in partnership	—		—
Property and equipment	—		—
Other	—		—
Deferred tax liabilities	—		—
Total net deferred tax assets	$	—	$	—